Think Like A CFO Podcast

4 Steps To A Profitable Business

January 18, 2021 Melissa Houston Episode 18
Think Like A CFO Podcast
4 Steps To A Profitable Business
Chapters
Think Like A CFO Podcast
4 Steps To A Profitable Business
Jan 18, 2021 Episode 18
Melissa Houston

“Financial mismanagement is probably the #1 money leak in your business.”

— Melissa Houston

I always say, money is one of the most emotional things in the world. And for an entrepreneur, one of the strongest emotions connected to money is stress.

My 4-step CFO Money Method Framework is a great way to dive into better understanding your business finances, keeping track of your cash flow, and learning how to develop an effective budget. In this episode, I’ll be breaking down each step — and they’re far less intimidating than you think!

Many entrepreneurs launch their businesses without knowing how to manage their finances. Unfortunately, financial literacy simply isn’t something that most people are taught unless they go to school for accounting or to earn their MBA.

But if you don’t know how to manage your business finances, you’ll have trouble figuring out how much profit (not revenue) you are earning. You’ll have difficulty identifying and plugging money leaks. And you’ll be less able to make needed changes in your business at the time that they’d be most effective.

Once you’ve gained financial literacy and learn how to keep your finances in order, you’ll feel a weight lift. Many of my clients have told me that they’ve started sleeping better, are better able to focus, and feel more happy and confident about their business.

Understanding your business finances allows you to set goals for your business that you may not have otherwise thought possible, discover new money-saving opportunities, and focus on boosting your profits.

“It’s never too late to plan your budget.”

— Melissa Houston

In this episode, we’ll explore:

  • The 4 main reasons to understand, monitor, and manage your business finances
  • The 3 most common business finance mistakes entrepreneurs make
  • The 4 steps of my CFO Money Method Framework

Highlights:

  • 01:19  Case study: Karen, high six-figure revenue
  • 03:07  The importance of financial management
  • 06:10  Common business finance mistakes
  • 08:11  The CFO Money Method Framework
  • 11:54  Never too late to budget
  • 13:53  Cash flow and cash reserves
  • 15:20  Case study: Karen’s results
  • 16:29  My new free training & program registration

Links:

Register for the free training on January 19th

The 4-Step Roadmap to Biz Finance Freedom

https://melissahoustoncpa.lpages.co/4-step-biz-finance-roadmap

Work with me

https://www.melissahoustoncpa.com/work-with-me

Want more tips and inspiration? Follow me on Twitter @melissahcpa and Pinterest @melissahoustoncpacga and visit my website: https://www.melissahoustoncpa.com.

Show Notes

“Financial mismanagement is probably the #1 money leak in your business.”

— Melissa Houston

I always say, money is one of the most emotional things in the world. And for an entrepreneur, one of the strongest emotions connected to money is stress.

My 4-step CFO Money Method Framework is a great way to dive into better understanding your business finances, keeping track of your cash flow, and learning how to develop an effective budget. In this episode, I’ll be breaking down each step — and they’re far less intimidating than you think!

Many entrepreneurs launch their businesses without knowing how to manage their finances. Unfortunately, financial literacy simply isn’t something that most people are taught unless they go to school for accounting or to earn their MBA.

But if you don’t know how to manage your business finances, you’ll have trouble figuring out how much profit (not revenue) you are earning. You’ll have difficulty identifying and plugging money leaks. And you’ll be less able to make needed changes in your business at the time that they’d be most effective.

Once you’ve gained financial literacy and learn how to keep your finances in order, you’ll feel a weight lift. Many of my clients have told me that they’ve started sleeping better, are better able to focus, and feel more happy and confident about their business.

Understanding your business finances allows you to set goals for your business that you may not have otherwise thought possible, discover new money-saving opportunities, and focus on boosting your profits.

“It’s never too late to plan your budget.”

— Melissa Houston

In this episode, we’ll explore:

  • The 4 main reasons to understand, monitor, and manage your business finances
  • The 3 most common business finance mistakes entrepreneurs make
  • The 4 steps of my CFO Money Method Framework

Highlights:

  • 01:19  Case study: Karen, high six-figure revenue
  • 03:07  The importance of financial management
  • 06:10  Common business finance mistakes
  • 08:11  The CFO Money Method Framework
  • 11:54  Never too late to budget
  • 13:53  Cash flow and cash reserves
  • 15:20  Case study: Karen’s results
  • 16:29  My new free training & program registration

Links:

Register for the free training on January 19th

The 4-Step Roadmap to Biz Finance Freedom

https://melissahoustoncpa.lpages.co/4-step-biz-finance-roadmap

Work with me

https://www.melissahoustoncpa.com/work-with-me

Want more tips and inspiration? Follow me on Twitter @melissahcpa and Pinterest @melissahoustoncpacga and visit my website: https://www.melissahoustoncpa.com.